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Home | News | Market Studies

Homeownership Still Holds Promise for Nine in 10 Americans

American-Dream

Even as the aftermath of the housing crisis continues to show in the market, a new survey shows the vast majority of Americans still regard homeownership as a "highly desirable goal." In findings released Tuesday, COUNTRY Financial revealed 89 percent of Americans in its most recent Security Index survey feel that buying a home is a key part of achieving the American Dream despite their recent memories of the crash.

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Survey: Misconceptions Holding Back Homebuying

home-key

While nearly seven in 10 Americans agree that now is a good time to become a homeowner, a large number remain reluctant due to their own misconceptions of the financing process, according to survey results. For example, Wells Fargo reported, 30 percent of respondents expressed belief that only people with high incomes can obtain a mortgage at this point, and 64 percent said they believe only those with a "very good"” credit score can buy a home right now.

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Industry Job Cuts Continue in Q2

unemployment-three

Despite growth in mortgage revenues at banks nationwide, industry employment continued to move down in the second quarter as banks cut staff, according to a report from Mortgage Daily. All of the reported cuts in the second quarter happened at banks, which lost approximately 28,600 jobs from the first quarter to the second.

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REOs Fall Year-Over-Year for 21st Straight Month

bank-owned-five

The number of residential properties repossessed by lenders by way of foreclosure in August declined on a year-over-year basis for the 21st consecutive month, according to RealtyTrac's monthly U.S. Foreclosure Market Report for August 2014 released September 11.

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Connecticut Housing Activity Slow, But Still Creeping Upward

HandGrabbingHouse

A slight increase in single-family home sales in Connecticut for the month of July marked the fifth time in 2014 that single-family home sales increased year-over-year, according to a report released on Wednesday by the Warren Group, publisher of the Commercial Record. The 3,152 homes sold in Connecticut in July represented the highest total for any month since June 2010, when 3,400 homes were sold in the state, according to the Warren Group. July's total of 3,152 was an increase of less than 1 percent from June's home sales of 3,129 in Connecticut. Year-to-date, through the end of July, home sales in the state have fallen by 1.2 percent (from 14,230 down to 14,059).

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Fannie Mae: Gradual Housing Recovery Will Continue Into 2015

house-for-sale

Improvements in the labor market in 2014 have not translated to widespread housing market recovery this year, according to the Fannie Mae August 2014 National Housing Survey. Instead, data in the survey indicated that recovery for the housing market will be slow heading into 2015. The number of people in the survey who said they believed now is a good time to sell a home fell six percentage points to 64 percent, an all-time low since the monthly survey began in June 2010. The number of people who said now is a good time to buy a home also declined to 38 percent.

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